Euro Weekly and Daily range
Normally Thursday's price action would continue to push upwards, especially when the first 12 hour timeframe breaks the 5-day 50% level...
However, as shown in the Weekly report, the Euro is trading below the 3-month 50% levels in December.
Based on current price action, there isn't a robust trade set-up for Friday
AUD Weekly and Daily range
looking for more strength in the AUD on Thursday, but it failed to continue upwards in the 2nd 12 hour timeframe.
My view is that the AUD is moving upwards, and the 5-day 50% level is the trend guide.
However, it won't surprise me to see AUD pushed downward on Friday to lower support levels if trading below the 50% levels.
- All Daily forex reports are written before 11.00am Sydney Time, which is approximately Midnight GMT
